Insurers Call For Post-Brexit Solvency II Overhaul
By Martin Croucher (September 13, 2021, 6:22 PM BST) -- Insurance executives told senior MPs on Monday that the U.K. needs to overhaul European Union capital adequacy rules in order to free up cash for green investments.
In a Treasury Committee hearing, Charlotte Clark, director of regulation at the Association of British Insurers — a trade body for the sector — said major reforms were now needed to the Solvency II Directive, following Brexit.
Clark was part of a panel of three insurance industry executives called to give evidence as the committee weighs the future of financial regulation in post-Brexit Britain.
The committee's inquiry comes alongside a consultation by HM Treasury...
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